Fill and Sign the Agreement Debt Document Form

Agreement to Compromise Debt Agreement made on the ________________ (date) , between _______________ (Name of Creditor) of ___________________________________________________ ____________________________ (street address, city, state, zip code) , referred to herein as Creditor , and _____________________ (Name of Debtor) , a corporation organized and existing under the laws of the state of ______________, with its principal office located at _________________________________________________________ ______________________ (street address, city, state, zip code) , referred to herein as ___________________________________________________________________ _____________________________ (street address, city, state, zip code) , referred to herein as Company . For and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned being a Creditor of Company hereby enters into an Agreement to compromise and reduce the indebtedness due the undersigned on the following terms and conditions: 1. Company and Creditor acknowledge that the present debt due is $__________. 2. The parties agree that Creditor shall accept the sum of $__________ as full and total payment on said debt and in complete discharge of all monies presently due, provided the sum herein shall be punctually paid. 3. In the event the Company fails to promptly pay the reduced amount, the Creditor shall have full rights to prosecute it claim for the total debt due under Paragraph 1 (less payments made). WITNESS our signatures as of the day and date first above stated. _________________________ (Name of Company) ________________________ By:_________________________________ (P rinted Name of Creditor) __________________________ _________________________ (P rinted Name & Office in Corporation) (Signature of Creditor) __________________________ (Signature of Officer)